|Gold in Euros. Click to enlarge|
We are likely to see new record highs vs. both the $ and the € once gold clears the €1,050 handle again, proving a capital flight from all major fiat currencies.
This makes it clear that the winner in the currency wars will be the universally accepted currency of the last 2,800 years one more time again. Fiat Currencies are not floating. They only sink at different speeds.